TEXAS INSTRUMENTS INCORPORATED AND SUBSIDIARIES

Consolidated Balance Sheets

March 31,

(In millions, except par value)

2023

2022

Assets

Current assets:

   Cash and cash equivalents

$     4,477

$     3,505

   Short-term investments

5,068

6,320

   Accounts receivable, net of allowances of ($13) and ($9)

1,877

1,795

   Raw materials

378

265

   Work in process

1,850

1,151

   Finished goods

1,060

644

   Inventories

3,288

2,060

   Prepaid expenses and other current assets

313

330

   Total current assets

15,023

14,010

Property, plant and equipment at cost

10,791

8,236

   Accumulated depreciation

(3,126)

(2,797)

   Property, plant and equipment

7,665

5,439

Goodwill

4,362

4,362

Deferred tax assets

486

273

Capitalized software licenses

140

91

Overfunded retirement plans

189

383

Other long-term assets

1,355

718

Total assets

$    29,220

$    25,276

Liabilities and stockholders' equity

Current liabilities:

   Current portion of long-term debt

$         500

$         500

   Accounts payable

952

641

   Accrued compensation

394

386

   Income taxes payable

372

405

   Accrued expenses and other liabilities

686

596

   Total current liabilities

2,904

2,528

Long-term debt

9,626

7,242

Underfunded retirement plans

123

81

Deferred tax liabilities

73

94

Other long-term liabilities

1,251

1,314

Total liabilities

13,977

11,259

Stockholders' equity:

   Preferred stock, $25 par value. Shares authorized – 10; none issued

—

—

   Common stock, $1 par value. Shares authorized – 2,400; shares issued – 1,741

1,741

1,741

   Paid-in capital

3,016

2,667

   Retained earnings

50,930

47,053

   Treasury common stock at cost

   Shares: March 31, 2023 – 833; March 31, 2022 – 819

(40,192)

(37,291)

   Accumulated other comprehensive income (loss), net of taxes (AOCI)

(252)

(153)

Total stockholders' equity

15,243

14,017

Total liabilities and stockholders' equity

$    29,220

$    25,276